Country managers in Spain agrees to additional 12 months lock up period on their shareholdings

Thu, Nov 23, 2017 17:06 CET

Oslo, 23 November 2017 - Reference is made to the company's announcement made on October 16, 2015 regarding the acquisition of ALD Abogados S.L. in Spain, where part of the acquisition price would be settled with up to 47 million new shares (the consideration shares) issued by the company (NMG).

The sellers, Mr. David Martín Ibeas and Mr. Andrés Lópes Sánchez each subsequently received 22.902.500 consideration shares with a lock-up period of 24 months. The lock-up period has now expired and both Mr. David Martín Ibeas and Mr. Andrés Lópes Sánchez has agreed to sell 50% of their consideration shares to Geveran Trading Co. Limited and have further agreed to extend the lock-up period for the remaining 50% of their consideration shares for another 12 months.

Mr. David Martín Ibeas and Mr. Andrés Lópes Sánchez are today sharing the country manager role for Axactor Spain.

For additional information, please contact:

Endre Rangnes, CEO Axactor

Mobile phone: +47 4822 1111

Email: endre.rangnes@axactor.com

or

Geir Johansen, CFO & Investor Relations, Axactor

Mobile phone: +47 4771 0451

Email: geir.johansen@axactor.com

www.axactor.com

About Axactor

Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for non-performing loans (NPL) in Europe. This market is estimated to be about 1,500 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 900 employees.